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Bitcoin Well Inc. says its non-custodial Bitcoin platform is gaining traction in the United States, reporting more than USD $9 million in transaction volume from January 2025 through March 2026. The company also announced the settlement of certain debt through share issuances and provided a quarterly update on its previously announced at-the-market (ATM) equity program.
Bitcoin Well’s Bitcoin Portal is continuing to build momentum in the U.S., with transaction volume of over USD $9 million from January 2025 through March 2026. The company reported that its registered user base grew from approximately 11,000 registered users in 2024 to over 20,000 as of March 31, 2026.
The company said internal data indicates strong loyalty among users who complete their first transaction, with repeat transaction rates exceeding 65%.
Management stated that roughly 10% of the company’s growing U.S. registered customer base has completed an initial transaction to date. Bitcoin Well described the gap between registered and active customers as a high-return growth opportunity, emphasizing optimization of the onboarding funnel rather than net-new customer acquisition.
Bitcoin Well reported that once a U.S. customer transacts for the first time, repeat transactions follow quickly. Internal metrics show that over 60% of repeat customers initiate the second transaction within seven days of their first transaction.
“The US opportunity is right in front of us,” said Adam O’Brien, founder and CEO of Bitcoin Well. “As the only non-custodial bitcoin platform in the USA, we can see our differentiator bearing fruit. The early success of the US entry shows that once a US customer transacts, they come back fast. Our focus in 2026 is simple: get more US customers through the door, and let the product do the rest.”
Bitcoin Well said it is indebted to certain creditors in the total amount of $202,358 as of March 31, 2026, related to interest accrued under agreements described as the “Use of Coin and Debenture Interest Debt.”
The company elected to settle $88,545 by issuing 1,106,815 common shares at a deemed price of $0.08 per share, and to settle $113,813 by issuing 1,778,320 shares at a deemed price of $0.064 per share.
The company noted that the Debt Settlement remains subject to approval of the TSX Venture Exchange (TSXV) and will be subject to a statutory hold period of four months and one day from the date of issuance under applicable securities laws.
Bitcoin Well also stated that a director participated in the Debt Settlement through a wholly owned subsidiary, which will be considered a related party transaction under MI 61-101. The company said it intends to rely on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101, citing that neither the fair market value of the subject matter nor the fair market value of the consideration is expected to exceed 25% of the company’s market capitalization.
Bitcoin Well provided an update on its ATM Program, launched March 28, 2025. The program allows the company to issue and sell, from time to time, up to $5,000,000 of shares from treasury to the public at the company’s discretion, pursuant to an equity distribution agreement with Haywood Securities Inc.
For the quarter ended March 31, 2026, the company issued 850,000 shares on the TSXV at an average price of $0.12 per share, generating gross proceeds of $102,328. The company reported that commissions and other related costs of $4,700 were paid to the agent, resulting in net proceeds of $97,628.
Bitcoin Well said it intends to use the funds for general working capital and to buy bitcoin as part of its Bitcoin Treasury Strategy.
Bitcoin Well also announced that, further to a March 5, 2026 news release, it received TSXV approval and issued 682,100 shares at a deemed price of C$0.09 per common share in settlement of debt owed to a creditor under a sponsorship agreement.
The company stated that the common shares issued for the sponsorship agreement debt are subject to a statutory hold period of four months and one day.
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